There are an increasing number of companies offering RTA leads to solicitor practices and claims management companies. Prices for the leads vary wildly from tens to hundreds of pounds per lead. What exactly should you pay and when you should pay nothing at all?
There are also various types of lead on the market. Hotkeys, survey leads and web generated leads are the most common. Hotkeys can vary from £60-£200, survey leads can vary from £40-£100 and web leads range from £20-£90. Which of these prices represent best value for money?
Well first of all there are certain times when any of these leads are totally worthless and you should just keep your money in your pocket. If the leads have been generated in a non compliant way or if they are non exclusive they should be avoided at all costs.
If the leads have been solicited by a lead generation company and then passed to a solicitor they will fall foul of SRA and Law Society guidelines. This can result in a huge fine, loss of the case and future unwanted scrutiny by the regulators. Avoid these leads like the plague.
If the leads are non exclusive they will be touted to everyone and his dog. When you get round to calling you may the fourth, fifth or fiftieth call they have had. Your chances of success are virtually zero and again you may be reported to the regulators.
When you do find a source of exclusive and compliant leads you just need to compare cost, conversion and return. If you have leads that cost £100 and you have a conversion rate of 1:3, each new case will cost you £300. Now if the return for each case is £600 you are making a 100% profit on each lead you buy.
You would expect the higher cost leads to have the higher conversion rates but that is not always the case. Trials with several suppliers is really the only way to assess the quality and conversions for the leads themselves.
The moral of the story is really to have varied lead types and sources in your marketing strategy. Keep a close eye on the returns from each campaign and only buy the leads as and when you want them. Getting locked into ongoing contracts and taking leads on blind faith is a fast route to massive losses.
By dealing with several sources you are also protecting the continuity of your business. If you rely solely on one source and it goes bad your business may be decimated. By dealing with several sources you will ensure that if one supplier drops off you still alternative leads coming in to keep you productive.
For further information on what to pay for RTA leads, you can visit the website rtaleads.co.uk. They also have a range of fully compliant and exclusive leads options available to suit every marketing budget.
Source by Mark Gardner-Emerson